Fed would review how well its emergency bank loan system works
Passed one chamberH.R. 3390Latest action
Sponsor: Monica De La Cruz · Representative · TX
AIDecoded by AI · checked against the recordRead the official text
Official title: Bringing the Discount Window into the 21st Century Act
119th Congress
Topics: Jobs & the economy
Introduced:
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The Fed would have about eight months to review its discount window, then report findings and a fix-it plan to lawmakers within a year.
45-second read · 4 questions answered below
What does this do?
The bill directs the Federal Reserve's Board of Governors to review the discount window, the Fed's way of making short-term emergency loans to banks, within about eight months. The review would cover technology, cybersecurity, operating hours, communication with banks and agencies, why some banks avoid borrowing, and how fast-moving tools like mobile banking can speed up withdrawals. The Fed would then write a plan with timelines and milestones to fix any problems it finds.
Who does it affect?
The bill mainly affects the Federal Reserve, banks and credit unions that borrow from the discount window, and the agencies that oversee them. Everyday people would not see direct changes.
Why does it matter?
The aim is to make emergency lending to banks faster and more reliable during periods of financial stress. Parts of the reports could be kept confidential if making them public could harm financial stability or security.
AI-drafted summary. Check it against the official text before you act on it.
Based on the “Referred in Senate” text of Feb 11, 2026.
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Where does it stand?
- IntroducedMay 14, 2025
- House committee
- House vote
- SenateYou are here · Feb 11, 2026
- The president's desk
Right now: it passed the House, and the official record shows nothing new since. If the Senate changes it, it goes back to the House before reaching the president.
Latest action: — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.